LVB net dips 31% to Rs 17 cr

Lakshmi Vilas Bank (LVB) has posted a decrease of 31.5 per cent in net profit with Rs 17.10 crore registered during the quarted ended March 31, as against Rs 24.96 crore for the corresponding quarter of the previous financial year.

The total income posted an increase of 11.7 per cent at Rs 521 crore for the fourth quarter, compared to Rs 466.2 crore posted during the same period of the year before.

Gross non-performing assets grew from Rs 308 crore (2.98 per cent) in January to March 31, 2012, to Rs 460 crore (3.87 per cent) for the same quarter ended March 31. The net NPA has increased to Rs 283.80 crore for the quarter ended March, compared to Rs 177.08 crore during the same period of previous financial year.